Corporate Income Tax for Banks Increased: Hetmansev on Key Changes in Legislation

Corporate Income Tax for Banks Increased: Hetmansev on Key Changes in Legislation

Danilo Hetmansev reported on the adoption of changes in legislation regarding taxation, specifically the increase in the corporate income tax rate for banks according to draft law No. 14097. At the same time, the legislation provides protection for internally displaced persons (IDPs).

According to the new norms, IDPs are exempt from real estate tax on properties that remain under occupation.

“Those people who left the occupied territories should not include in their non-taxable minimum the real estate they left behind,” Hetmansev noted.

Changes for the 'White Business Club'

In addition, the draft law introduces changes to the criteria for the average monthly salary for members of the 'White Business Club'. From now on, the average salary must equal or exceed the average salary in the respective industry and region, multiplied by a coefficient of 1.1. Also, those norms that made this institution less comfortable than it should be for white business have been removed, Hetmansev stated.

Members of the 'White Business Club' received an additional advantage: they are not subject to tax audits from the day following the publication of the list. These changes aim to support businesses during difficult times and stimulate their development.

The changes that were adopted reflect the government's attempt to adapt tax policy to modern economic conditions, especially in times of war and its consequences for the population and businesses. The increase in the corporate income tax for banks may affect the financial sector, while the exemption for IDPs from real estate tax aims to reduce their financial burden. At the same time, support for the 'White Business Club' may contribute to the recovery and development of entrepreneurship in Ukraine, which is important for the economic stability of the country during this difficult time.